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Note 2 - Fair Value of Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2017

Notes Tables

Fair Value, Assets Measured on Recurring and Nonrecurring Basis [Table Text Block]

		Fair Value Measurements at March 31, 2017 Using
		Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)
Assets:
U.S. Government sponsored entity securities			----			$	10,576				----
Agency mortgage-backed securities, residential			----				92,596				----

		Fair Value Measurements at December 31, 2016 Using
		Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)
Assets:
U.S. Government sponsored entity securities			----			$	10,544				----
Agency mortgage-backed securities, residential			----				85,946				----

		Fair Value Measurements at March 31, 2017, Using
		Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)
Assets:
Impaired loans:
Commercial real estate:
Owner-occupied			----				----			$	290
Nonowner-occupied			----				----				2,462
Commercial and industrial			----				----				375
Other real estate owned:
Commercial real estate:
Construction			----				----				754

		Fair Value Measurements at December 31, 2016, Using
		Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)
Assets:
Impaired loans:
Commercial real estate:
Owner-occupied			----				----			$	3,536
Nonowner-occupied			----				----				1,985
Commercial and industrial			----				----				298
Other real estate owned:
Commercial real estate:
Construction			----				----				754

Fair Value Inputs, Assets, Quantitative Information [Table Text Block]

March 31, 2017

Fair Value

Valuation Technique(s)

Unobservable Input(s)

Range

(Weighted Average)

Impaired loans:

Commercial real estate:

Owner-occupied

$

290

Sales approach

Adjustment to comparables

15.7%

to

52%

31.7%

Nonowner-occupied

2,462

Sales approach

Adjustment to comparables

0%

to

250%

58.6%

Commercial and industrial

375

Sales approach

Adjustment to comparables

2%

to

14.2%

8.1%

Other real estate owned:

Commercial real estate:

Construction

754

Sales approach

Adjustment to comparables

0%

to

30%

11.7%

December 31, 2016		Fair Value				Valuation Technique(s)		Unobservable Input(s)		Range					(Weighted Average)
Impaired loans:
Commercial real estate:
Owner-occupied		$	3,536			Sales approach		Adjustment to comparables		0%	to	65%				13.7%
						Cost approach		Adjustment to comparables		0%	to	29.5%				14.8%
Nonowner-occupied			1,985			Sales approach		Adjustment to comparables		0%	to	250%				58.6%
Commercial and industrial			298			Sales approach		Adjustment to comparables		0.9%	to	9.7%				5.2%
Other real estate owned:
Commercial real estate:
Construction			754			Sales approach		Adjustment to comparables		0%	to	30%				11.7%

Fair Value, by Balance Sheet Grouping [Table Text Block]

						Fair Value Measurements at March 31, 2017 Using:
		Carrying Value				Level 1				Level 2				Level 3				Total
Financial Assets:
Cash and cash equivalents		$	111,917			$	111,917			$	----			$	----			$	111,917
Certificates of deposit in financial institutions			1,425				----				1,425				----				1,425
Securities available for sale			103,172				----				103,172				----				103,172
Securities held to maturity			18,827				----				9,964				9,411				19,375
Restricted investments in bank stocks			7,506				N/A				N/A				N/A				N/A
Loans, net			731,546				----				----				732,323				732,323
Accrued interest receivable			2,299				----				365				1,934				2,299
Financial liabilities:
Deposits			867,903				287,130				581,065				----				868,195
Other borrowed funds			39,285				----				37,977				----				37,977
Subordinated debentures			8,500				----				6,141				----				6,141
Accrued interest payable			543				1				542				----				543

						Fair Value Measurements at December 31, 2016 Using:
		Carrying Value				Level 1				Level 2				Level 3				Total
Financial Assets:
Cash and cash equivalents		$	40,166			$	40,166			$	----			$	----			$	40,166
Certificates of deposit in financial institutions			1,670				----				1,670				----				1,670
Securities available for sale			96,490				----				96,490				----				96,490
Securities held to maturity			18,665				----				9,541				9,630				19,171
Restricted investments in bank stocks			7,506				N/A				N/A				N/A				N/A
Loans, net			727,202				----				----				727,079				727,079
Accrued interest receivable			2,315				----				224				2,091				2,315
Financial liabilities:
Deposits			790,452				209,576				581,340				----				790,916
Other borrowed funds			37,085				----				35,948				----				35,948
Subordinated debentures			8,500				----				5,821				----				5,821
Accrued interest payable			513				4				509				----				513

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- Definition

Tabular disclosure of assets measured at fair value measured on a recurring or nonrecurring basis. Includes, but is not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2.

+ References

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+ References

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